This is a depreciation recapture. However, if taxpayer instead sells the property for $1200, because his recomputed basis is $600, $400 of the gain is taxed as ordinary income and $200 is taxed at the more favorable capital gains tax rate.
The tuition charge is $10,088 while room and board is $8,270, books and supplies are $1,130 and other fees come in at $1,929. Residents of Virginia pay an annual total price of $21,417 to attend Virginia Tech on a full time basis.
Virginia Tech received a record number of nearly 22,500 applications for the fall 2015 freshman class, an increase of 7.6% from the previous year's 20,897 applications. The typical student offered admission had a high-school grade point average of 4.00, with the middle 50 percent ranging from 3.84 and 4.27.